Three-Unit Multifamily
New
For Sale
$359,900
20 Franklin Street, Larksville, PA 18704
Multi-Family, Larksville, PA
Property Size3,096 SF
Lot Size0.14 Acres
Price / SF$116.25
Days on Market4
Property Features for 20 Franklin Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Community Business
Bedrooms
6
Bathrooms
3
Full bathrooms
3
Rooms
Basement, Bedroom 6, Bathroom 3, Bedroom 3, Bedroom 1, Bathroom 1, Bathroom 2, Bedroom 2, Bedroom 5, Bedroom 4
Parking features
Off Street
Exterior features
Brick, Vinyl
Basement
Dirt Floor
Elementary school district
Wyoming Valley West
Middle school district
Wyoming Valley West
High school district
Wyoming Valley West
Directions
E Main Street to Pace St to Wilson St turn right onto Franklin St.
Subdivision
Kingston Surrounds
Standard status
Active
APN
38-G9S1-005-002
Size
3,096 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Tenants personal property
Tax Annual Amount
2321
Legal Description
Tenants personal property
Utilities
Heating system
Electric (Heating), Baseboard
Water source
Public
Listing Agency:
C. A. Leighton Company Inc
(570) 823-7144
Listed By:
Patricia Leighton · License #AB069689
(570) 262-4569
Added: Sep 17
Last Checked: Sep 20 at 10:06PM
MLS# 26-3395
Copyright © 2026 Luzerne County Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 3,096-square-foot triplex contains three four-room units, each arranged with two bedrooms, a kitchen, and a bathroom. The first- and second-floor front apartments and the rear apartment each include modern kitchens and baths. Two units are currently rented, while one is vacant. Exterior materials include brick and vinyl, with electric baseboard heating and public water service.
The property occupies 0.1377 acres at 20 Franklin Street in Larksville, Pennsylvania, within Community Business zoning. Paved parking at the front accommodates 3 cars. The rear area may offer additional off-street parking if needed, subject to applicable requirements.
The property occupies 0.1377 acres at 20 Franklin Street in Larksville, Pennsylvania, within Community Business zoning. Paved parking at the front accommodates 3 cars. The rear area may offer additional off-street parking if needed, subject to applicable requirements.
Key Highlights
- Three‑unit triplex totaling 3,096 square feet
- Two units rented and one unit vacant
- Each unit has 4 rooms, 2 bedrooms, a kitchen, and a bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$24,986
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.94%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$499,720
$499.7K
Cap Rate 7%
$356,943
$356.9K
Cap Rate 9%
$277,622
$277.6K
Market Conditions
NOI Build-Up for 3,096 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$39.0K $12.60/SF
− Vacancy
−$3.3K −$1.07/SF
EGI
$35.7K $11.53/SF
− OpEx
−$10.7K −$3.46/SF
NOI
$25.0K $8.07/SF
Area
Luzerne County, PA
Vacancy
8.50%
Lease Rate
$12.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$499,720
Cap Rate 7%
$356,943
Cap Rate 9%
$277,622
Alternative Uses
Best Use
Multifamily LT 5
$356.9K
$312.3K – $416.4K
NOI $24,986 @ 7.0% cap · market cap 6.94%
Second Best
Apartment 5plus
$331.0K
$289.7K – $386.2K
NOI $23,173 @ 7.0% cap · market cap 6.44%
Theoretical Best
Office A
$980.8K
$858.2K – $1.14M
NOI $68,657 @ 7.0% cap · market cap 19.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
117
Businesses Nearby
Explore this area
Business Placement
Demographics for 18704, PA
31,138
Population
14,531
Households
2.1
Avg Household Size
43
Median Age
29%
College-Educated
95%
High-School Grad
10.1 sq mi
ZIP Area
3,083
Density / Sq Mi
$62,907
Median Household Income
$39,349
Median Earnings
$935
Median Rent
$154,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three-unit property with two rented apartments and one vacant unit, plus paved front parking.
Where is this triplex located?
The property is located at 20 Franklin Street Larksville, PA.
What is the asking price?
The asking price for this property is $359,900.
What are key features of this property?
This property features: Three‑unit triplex totaling 3,096 square feet; Two units rented and one unit vacant; Each unit has 4 rooms, 2 bedrooms, a kitchen, and a bathroom
